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Articles by Tony Craddock
Challenging convention: Rethinking payments, platforms and progress
In a frank conversation with The Payments Association’s Tony Craddock, Sudip Lahiri, executive vice president & head – Europe & UK, financial services, at HCL, reflects on the evolution of payment infrastructures, the rise of AI, the cautious march toward digital currencies, and why cannibalising your own business can sometimes be the smartest move. Tony Craddock: Let’s start with the fundamentals. Where do you see the real transformation happening in payments right now?
The Payments Association Appoints Mitch Trehan and Daniel Holden as Vice Chairs for Its Advisory Board
The Payments Association, a trade group for the payments sector, has appointed Mitch Trehan, Chief Compliance Officer at Allica Bank, and Daniel Holden, formerly Group CEO of Trust Payments, as Vice Chairs of its Advisory Board. As Vice Chairs, Trehan and Holden will assist the Chair Neil Harris in guiding the strategic direction of The Payments Association.
The Payments Association Calls on UK Government to Push for Growth Through Payments Innovation
The Payments Association, a trade group representing the payments sector, today sees the official launch of its Payments Manifesto 2025, containing key policy recommendations to support the government’s vision for a world-class payments industry.
ID-Pal Joins The Payments Association to Lead the Fight Against AI-Fraud in the Payments Industry
ID-Pal, a leading provider of AI-powered identity verification solutions, today announced its membership with The Payments Association, an influential community of industry leaders and innovators committed to shaping the future of payments. This partnership highlights the commitment of both organisations to enhance security and foster innovation within the payments industry.
The Payments Association Urges the House of Commons to Address Financial Exclusion
The Payments Association, a trade group representing the payments sector, yesterday presented the policy recommendations that were proposed in its white paper to the House of Commons. The report “Redefining Community Finance: Unlocking Pathways to Financial Inclusion” highlights the potential of institutions such as credit unions as solutions to financial exclusion in the UK.
Digital Cash on the Agenda as UK Cash Use Declines, Says Payments Association Study
An extensive new survey from The Payments Association, a trade group representing the payments industry, has shown that consumer preference for using cash is already low and likely to decline further. The Payments Association believes the UK should invest in the next stage of its payments evolution with the introduction of a Central Bank Digital Currency (CBDC). The survey shows that many people barely touch cash, preferring to use anything from cards to phones to newly fashionable payment rings.
Cross-Border Payments Could Further Enable APP Fraud, Says Payments Association Study
Authorised Push Payment (APP) fraud continues to be one of the most pressing concerns for financial services, the payment industry, law enforcement and the general public – and new developments in cross-border payments may be making it easier. A new study by The Payments Association, the UK’s community and advocate for the payments industry, highlight how the speed and anonymity of cross-border payments, and the global patchwork of different regulatory regimes, is being exploited by criminals.
The Payments Association Launches Its Manifesto, Calling for a National Payments Plan
The Payments Association, the most influential community in payments, has today launched The Payments Manifesto 2025: creating conditions to support growth and innovation in payments. The government is producing a much needed National Payments Vision and Strategy (NPV&S), that reflects its recognition of the systemic importance of payments to the UK authorities and how its leadership must give rise to a new era for payments.
The Payments Association Calls on the Newly Appointed Economic Secretary to the Treasury to Reduce Mandatory APP Fraud Reimbursement to £30,000
The Payments Association, which celebrates innovation and collaboration across the industry, has today shared a letter to the UK’s new Economic Secretary to the Treasury and City Minister, Tulip Siddiq. The letter communicates the association’s non-bank members’ concerns that the Payment Systems Regulator’s (PSR) policy rules will undermine competition, stifle innovation, reduce investment, and force smaller players to a disorderly exit from the UK.
The Payments Association Invites Incoming Chancellor to Show Leadership, Unlock the Potential of UK Payments as an Enabler of Growth, and Effectively Combat Fraud
On the day that the United Kingdom heads to the polls to vote in the General Election, The Payments Association, which celebrates innovation and collaboration across the industry, has drafted a letter to the UK’s new Chancellor of the Exchequer. The letter will be delivered following today’s election, when the position has been filled, and will highlight the payments community’s priorities for the sector.
The Payments Association Echoes Calls to Support With Community Finance
With millions of people in the UK struggling to access affordable financial services, The Payments Association is calling attention to underutilised solutions including community finance options like credit unions. The association’s newly released paper: “Redefining Community Finance: Unlocking Pathways to Financial Inclusion” highlights the potential of these institutions but also the significant barriers hindering their growth.
CFIT Forms Industry Coalition - ‘Fighting Economic Crime Through Enhanced Verification’
A new industry coalition will be formed to fight economic crime through enhanced verification, the Centre for Finance, Innovation and Technology (CFIT) has announced today. The coalition will bring together experts from a broad range of fields including finance, technology, policy, academia and others, to devise solutions for detecting fraud, protecting SMEs and bolstering defences against crime such as Authorised Push Payment (APP) fraud.
The Payments Association Calls to Delay APP Fraud Implementation
Following the resignation of the Managing Director (MD) of the Payment Systems Regulator (PSR), taking effect on 7th June 2024, The Payments Association, which celebrates innovation and collaboration across the industry, has today produced and shared a private Briefing Paper for the new interim MD, David Geale, to highlight the community’s concerns, as well as prioritised proposals that would benefit from immediate attention in the run up to the 7th October implementation date of APP Fraud...
The Biggest Fraud Threat with AI the Solution," Says The Payments Association Survey
A plurality of the payments industry believe that Authorised Push Payment (APP) fraud is likely to be the biggest threat in 2024 – and that AI technology will be key in combatting it. That’s according to a survey of payment leaders and trailblazers published by The Payments Association, which celebrates innovation and collaboration across the industry.
Best-selling author Chris Skinner unveils “Intelligent Money” at Pay 360
Today Chris Skinner, a world-renowned strategist specialising in the future of business, technology and finance and author of more than twenty best-selling titles announces the launch of his book, “Intelligent Money,” at this year’s Pay 360. “Intelligent Money” centres around how money will soon be embedded, intelligent, invisible and everywhere and addresses questions such as WHO cares about the money of the future? WHY should I care about the money of the future?
UK payments industry going backwards to go forwards | Pay it Forward with The Payments Association
In this edition of the Pay it Forward podcast hosted by payabl. we speak to Tony Craddock, Director General of The Payments Association. This excellent and engaging conversation covers Britain’s payments strategy, including a crackdown on EMI authorisations, the state of Open Banking and whether we’re moving forward or backwards.
USDA Supports Tribal Communities in Celebrating Their Heritage Through School Meals
What kid doesn’t enjoy eating their favorite dish in the school cafeteria? As a kid, I was always excited when broccoli cheese soup was on my school lunch menu! But, what if the foods that kids eat at home and in their community aren’t served in school? This is a challenge that some children face across the country, especially in schools serving students from the Federally Recognized Tribes and/or Native Hawaiians.
Open Banking in the UK: Where are we after 6 years?
The launch of PSD2 in the UK made Open Banking a regulatory requirement. As we arrive at the six year anniversary, we’re looking at what’s changed… and what hasn’t. Primarily impacting payments up until this point, the Open Banking mandate was intended to boost competition amongst service providers and open a raft of opportunities for both consumers and businesses. Through bank APIs, customers would be able to consent to the sharing of information with third parties.
The Payments Association welcomes UK’s Future of Payments Review call for national strategy to re-establish world-leading status
The Payments Association, the most influential community in payments, has welcomed the release of the report following the Future of Payments Review, commissioned by the Chancellor. The report calls for a National Vision and Strategy for Payments considering the importance of payments to consumers and the economy, the many billions of pounds being invested and the highly interdependent nature of the many different initiatives in the payments arena.
FinCrime Dynamics Bolsters Board with the Appointment of Joanne Dewar
FinCrime Dynamics, the financial crime prevention AI company, is pleased to appoint Joanne Dewar, the recognised Fintech leader to join the board. FinCrime Dynamics’ flagship SaaS platform Synthetizor®, empowers Financial Institutions to generate financial crime simulations and custom synthetic data to train machine learning and effectively find a solution to the longstanding data problems faced in creating AI for rapidly evolving financial crimes.
The Payments Association Whitepaper on Cross-border Payments
The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new whitepaper exploring the growth potential and future of Cross-border Payments, citing technology as a key driver in making them cheaper, faster and more accessible. In doing so, it will bring huge benefits to businesses and households in emerging and developing countries.
The Payments Association Releases its Own Payments Manifesto
Ahead of the next general election and before the UK’s political parties release their party manifestos in the Autumn, The Payments Association, which promotes innovation and collaboration across the payments industry, has released its own Payments Manifesto. The Payments Manifesto is independent of all political parties and has been democratically developed to provide policy suggestions for delegates attending the political party conferences this year.
The Payments Association Delivers Cost-of-Living Recommendations to Government and Regulators
As the cost-of-living crisis continues to impact millions of people across the UK, The Payments Association, which celebrates innovation and collaboration across the payments industry, presented its report, ‘Navigating the rising cost of living: Payments innovation as a game-changer’, to an array of cross-party MPs and representatives from regulatory bodies at Parliament last week.
Urgent call for UK Government to accelerate Smart Data Reforms for economic growth and global competitiveness
A heavyweight business coalition led by John Penrose MP is calling for the Government to speed up Smart Data reforms, making British exporters more competitive, stimulating investment in UK digital jobs and delivering better deals for consumers to help cut the cost of living too.
Innovation in payments holds the key to increased financial inclusion, reports The Payments Association
The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new report that explores the intersection between the complex socio-economic issues of the cost-of-living crisis and poverty premium in the UK. The report cites the potential of fintech and payments innovation in supporting consumers through the crises, as well as the recommendations to provide a catalyst for change.
The Payments Association appoints industry titans, Neil Harris and Nathalie Oestmann, to lead Advisory Board
The Payments Association, which celebrates innovation and collaboration across the payments industry, has today announced the appointment of b.yond digital CEO, Neil Harris, as Chair of its Advisory Board, with Nathalie Oestmann, COO of Outlier Ventures, taking on the role of Vice Chair.
School Breakfast: A Jump Start to a Great Day
How you start your day sets the tone for the rest of your day! School breakfast programs are critical in building a healthier future for America’s children. But currently, only half of the children who eat school lunch also get their breakfast at school. Additionally, schools have voiced their need for additional support to serve breakfasts that meet the latest dietary guidance for children.
The Payments Association Reports Collaboration on Data Sharing Is Vital for Preventing Economic Crime
The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new whitepaper examining the current arrangements for sharing data to prevent economic crime in the UK, citing collaboration between regulated entities and between public and private sector is key to progress on data sharing to prevent economic crime.
Collaboration Vital for Progress on Data Sharing to Prevent Economic Crime, Reports the Payments Association in Association With Form3
The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new whitepaper examining the current arrangements for sharing data to prevent economic crime in the UK, citing collaboration between regulated entities and between public and private sector is key to progress on data sharing to prevent economic crime.
‘Digital currencies will play a crucial role in the financial landscape’, reports The Payments Association
The Payments Association, which celebrates innovation and collaboration across the payments industry, has set out seven clear conclusions to help steer the debate in the UK’s future for digital currencies. In a newly released report, the association reports increasing of regulation measures, explosion of business use cases, the closing of the gap between conventional and new payments systems and how payments is at the core of this new paradigm shift for the UK.
USDA Celebrates 2022 Summer Meals Champions and Looks Ahead to Summer 2023
Millions of children face a risk of hunger during the summer months when they no longer have access to school meals. USDA’s summer meal programs – the Summer Food Service Program and Seamless Summer Option – reduce food and nutrition insecurity and help ensure kids are healthy and ready to learn when they return to school in the fall. Nationwide, thousands of dedicated organizations sponsor summer meal programs and work tirelessly to offer high quality meals that are appealing and nutritious.
Form3 Sponsors Payments Association Working Group to Tackle UK Digital and Financial Crime
Form3, the cloud-native account-to-account platform, today announces that it is sponsoring the Payment Association’s Project Financial Crime Working Group this year, to address the challenges of tackling increasing levels of digital and financial crime in the UK. As benefactors of the project, Form3 will lead on industry collaboration among financial institutions to develop strategies to enable banks to deal with the ever-increasing threat of financial crime.
Diverse Band of Industry Leaders Join the Payments Association Powerhouse
The Payments Association, which celebrates innovation and collaboration across the payments industry, is pleased to announce that six new executives from across the world of payments have been voted by members to join the Advisory Board of its award winning association. Charged with guiding and supporting the UK’s Leading Trade Association 2022 (under 500 members)*, the new Advisory Board members are from a payments scheme, two banks, two technology companies and a blockchain business.
Farm to School Champions Needed! Apply for a Grant Today
October is more than a time for crisp temperatures and vibrant autumn leaves. It’s also Farm to School Month, when USDA joins schools, farms, and community organizations across the country to celebrate the role of farm to school programs in getting healthy, locally grown foods onto children’s trays through child nutrition programs, including school breakfast and lunch.
The Payments Association Announces and Honours the 2022 PAY360 Awards Winners
The Payments Association, which celebrates innovation and collaboration across the payments industry, has today announced the winners of its 15th annual PAY360 Awards. Held at JW Marriot Grosvenor House Hotel, London, and attended by more than 850 of the most senior executives from across the payments value chain, it is the most prestigious payments ceremony in the UK.
Focus on International Payments
Teana Baker-Taylor Vice President, Policy & Regulatory Strategy, UK/EU, Circle Contact: Teana is Vice President of Policy and Regulatory Strategy, UK/EU for Circle, a global financial technology company at the center of open financial infrastructure and the principal developer of USD Coin (USDC), which has become the fastest growing dollar digital currency in the world.
Artificial Intelligence and the Future of War
There could be no more consequential decision than launching atomic weapons and possibly triggering a nuclear holocaust. President John F. Kennedy faced just such a moment during theCuban Missile Crisisof 1962 and, after envisioning the catastrophic outcome of a US-Soviet nuclear exchange, he came to the conclusion that the atomic powers should impose tough barriers on the precipitous use of such weaponry.
The Science of Motivation with Mark McKoy
When people ask why I’ve ventured into the corporate incentives market after building a successful life in sports, wellness, and public speaking, there is one word that comes to mind: “Motivation.” Motivation is an integral part of external and internal success. So is having the proper mindset. Sports is an industry that teaches you both, and it is rare to find that anywhere else in society.
Risky Georgia
Georgia is nice . I mean not the US state but the country — former USSR republic. Sweet home for the Caucasus Mountain villages and the Black Sea beaches. Delicious, dizzy and soulful place in memory of its visitors. But you can’t get by without laris (₾) here. Even though many of cafes, stores and hotels accept bank cards, and most of them support contactless payment, you still need cash to buy churckhela from that granny over there.
The Women Shaping Payments in 2030
Last week, I was delighted to sit on a panel session at this year’s European Women Payments Network in Amsterdam. The annual conference brought together more than 250 women for two days of interactive panels, networking and plenary sessions. Its aim? To promote diversity in payments and Fintech, debate the hot topics, and celebrate the women pushing payments to the next level. With women from across the industry in attendance, debates were lively, engaging and insightful.
Keep Pouring Tea for the Tillerman
I have heard that HM Treasury is considering removing tax benefits to those investing in start-up companies, EIS and SEIS. This must be avoided at all costs. The financial technology industry (Fintech) has grown rapidly in the UK in the last decade, stimulated by five factors: 1. Entrepreneurial talent 2. Favourable regulatory backdrop 3. Willingness to collaborate not compete 4. Consumers and businesses willing to adopt new products and services 5.
‘Access is life-changing - we’re denying access to payments accounts to those we should support’
We were first with real-time clearing of payments with Faster Payments, near-ubiquitous contactless payments nationwide and a 21st-century payment systems strategy involving the whole community. But if you are unemployed due to sickness for example, you can’t open a bank account easily. If you’re one of the 500,000 UK startups that set up each year, where the entrepreneur may not have funding yet, accessing banking services is near impossible.
Summer Meal Programs Fight Hunger with Nutritious Food and Innovation
The following guest blog discusses the importance of USDA Summer Meals Programs, which provide children with healthy food during the summer, when the school meals they depend on disappear. Childhood memories shared by the writer demonstrate how critical healthy meals are to the growth and development of children. USDA’s approaches to making summer meals accessible are also highlighted.
Fintech startups could benefit from better advice
London is bursting at the seams with fintech startups aiming to be ‘the next big thing’ and to disrupt the status quo. Yet, those who have actually made it are few and far between. Why is this? There’s certainly no shortage of good ideas, and there are plenty of incubators and accelerators to help with tricky early stage funding and growth.
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